Bristol-Myers Squibb (NYSE:BMY) Stock Position Cut by Oak Harbor Wealth Partners LLC

Oak Harbor Wealth Partners LLC cut its position in shares of Bristol-Myers Squibb (NYSE:BMY) by 3.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,318 shares of the biopharmaceutical company’s stock after selling 217 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Bristol-Myers Squibb were worth $357,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. State Street Corp grew its holdings in Bristol-Myers Squibb by 1.6% during the third quarter. State Street Corp now owns 92,896,580 shares of the biopharmaceutical company’s stock valued at $4,806,469,000 after purchasing an additional 1,451,214 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Bristol-Myers Squibb by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 61,030,403 shares of the biopharmaceutical company’s stock valued at $3,157,713,000 after buying an additional 1,968,729 shares in the last quarter. FMR LLC increased its position in Bristol-Myers Squibb by 10.5% in the third quarter. FMR LLC now owns 44,940,609 shares of the biopharmaceutical company’s stock worth $2,325,227,000 after purchasing an additional 4,275,787 shares during the period. Geode Capital Management LLC increased its position in Bristol-Myers Squibb by 2.5% in the third quarter. Geode Capital Management LLC now owns 43,204,016 shares of the biopharmaceutical company’s stock worth $2,228,425,000 after purchasing an additional 1,036,495 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Bristol-Myers Squibb by 6.4% during the fourth quarter. Bank of New York Mellon Corp now owns 24,733,868 shares of the biopharmaceutical company’s stock worth $1,398,948,000 after buying an additional 1,482,410 shares during the last quarter. Institutional investors and hedge funds own 76.41% of the company’s stock.

Wall Street Analyst Weigh In

BMY has been the topic of several recent analyst reports. Wolfe Research assumed coverage on Bristol-Myers Squibb in a report on Friday, November 15th. They set a “peer perform” rating on the stock. Citigroup boosted their price target on Bristol-Myers Squibb from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Morgan Stanley upped their target price on Bristol-Myers Squibb from $36.00 to $39.00 and gave the company an “underweight” rating in a research report on Tuesday, November 12th. Daiwa Capital Markets upgraded Bristol-Myers Squibb from a “neutral” rating to an “outperform” rating in a research report on Wednesday, November 13th. Finally, Truist Financial upped their target price on Bristol-Myers Squibb from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.86.

Bristol-Myers Squibb Stock Up 1.6 %

Shares of NYSE:BMY opened at $61.16 on Friday. Bristol-Myers Squibb has a 1 year low of $39.35 and a 1 year high of $63.11. The business has a 50 day simple moving average of $57.39 and a two-hundred day simple moving average of $55.08. The firm has a market capitalization of $124.11 billion, a PE ratio of -13.84, a price-to-earnings-growth ratio of 2.07 and a beta of 0.43. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.25 and a quick ratio of 1.15.

Bristol-Myers Squibb (NYSE:BMY) last issued its quarterly earnings data on Thursday, February 6th. The biopharmaceutical company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Bristol-Myers Squibb had a negative net margin of 18.53% and a positive return on equity of 13.93%. On average, equities analysts predict that Bristol-Myers Squibb will post 6.74 EPS for the current year.

Bristol-Myers Squibb Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Friday, April 4th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, April 4th. Bristol-Myers Squibb’s payout ratio is currently -56.11%.

Insider Buying and Selling

In other Bristol-Myers Squibb news, EVP Samit Hirawat acquired 1,823 shares of the business’s stock in a transaction on Friday, February 14th. The stock was bought at an average price of $54.84 per share, for a total transaction of $99,973.32. Following the acquisition, the executive vice president now owns 63,932 shares in the company, valued at approximately $3,506,030.88. The trade was a 2.94 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

About Bristol-Myers Squibb

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.